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Simatech plots order for four 2,800-teu newbuilds

Simatech Shipping appears to be homing in on a newbuilding order for up to four 2,800-teu containerships worth an estimated $120m.

The Dubai and Singapore-managed feeder operator is understood to have signed a letter of intent for two plus two sub-panamax units at Guangzhou Wenchong Shipyard in China.

The newbuildings will be built to the IMO’s NOx Tier III specifications at a price of around $31m each, with deliveries starting in 2020, according to European broking and liner shipping sources.

Simatech, a private company owned by the Maghami family, acts as a regional liner player in Middle Eastern and Asian waters, as well as being a provider of tonnage to other liner operators.

In a brief email reply to TradeWinds, chairman Mohammad Maghami implied that the project was being orchestrated by Simatech in Singapore. It comes as the 2,800-teu sector is proving a popular size with Asian operators, including Wan Hai Lines and Yang Ming Marine Transport Corp, which are involved in talks for eight and 10 ships of this size, respectively.

Its talks with Guangzhou Wenchong mark a return to the newbuilding market after a gap of several years, during which time it has focused on acquiring slightly larger containerships.

Simatech last entered the newbuilding sector in mid-2013 with an order for two 4,350-teu wide-beam boxships — the Sima Genesis and Sima Giselle (both built 2015) — at China’s Taizhou Kouan Shipbuilding.

More recently, it has focused on the secondhand market in the classic panamax sizes. Last year, it acquired the 4,239-teu Simo Brizo (ex-Clivia, built 2004) for what is believed to have been the bargain price of $8m. The vessel operates in Simatech’s services connecting Jebel Ali to India's west and east coasts.

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Simatech plots order for four 2,800-teu newbuilds

Simatech Shipping appears to be homing in on a newbuilding order for up to four 2,800-teu containerships worth an estimated $120m.

The Dubai and Singapore-managed feeder operator is understood to have signed a letter of intent for two plus two sub-panamax units at Guangzhou Wenchong Shipyard in China.

The newbuildings will be built to the IMO’s NOx Tier III specifications at a price of around $31m each, with deliveries starting in 2020, according to European broking and liner shipping sources.

Simatech, a private company owned by the Maghami family, acts as a regional liner player in Middle Eastern and Asian waters, as well as being a provider of tonnage to other liner operators.

In a brief email reply to TradeWinds, chairman Mohammad Maghami implied that the project was being orchestrated by Simatech in Singapore. It comes as the 2,800-teu sector is proving a popular size with Asian operators, including Wan Hai Lines and Yang Ming Marine Transport Corp, which are involved in talks for eight and 10 ships of this size, respectively.

Its talks with Guangzhou Wenchong mark a return to the newbuilding market after a gap of several years, during which time it has focused on acquiring slightly larger containerships.

Simatech last entered the newbuilding sector in mid-2013 with an order for two 4,350-teu wide-beam boxships — the Sima Genesis and Sima Giselle (both built 2015) — at China’s Taizhou Kouan Shipbuilding.

More recently, it has focused on the secondhand market in the classic panamax sizes. Last year, it acquired the 4,239-teu Simo Brizo (ex-Clivia, built 2004) for what is believed to have been the bargain price of $8m. The vessel operates in Simatech’s services connecting Jebel Ali to India's west and east coasts.